Accenture approves additional $3 billion for share repurchase
26 Oct 2007
Accenture (NYSE: ACN) announced today that the board of directors of Accenture management consulting, technology services and outsourcing company, has approved $3 billion of additional share repurchase.
The consulting company intends to use the additional share repurchase primarily for the purchase, redemption and exchange of shares from current and former Accenture senior executives received in connection with the company''s transition to a corporate structure in 2001.
The repurchase may also be used for purchases to be made under Accenture''s publicly announced open-market share purchase programme.
As on 31 August, 2007, Accenture''s total remaining share repurchase was approximately $1.65 billion.
Accenture
generated net revenues of $19.70 billion for the fiscal year ended 31 August 2007.
